A BOND AND CAPITAL IMPROVEMENTS ACT OF THE STATE OF DELAWARE AND CERTAIN OF ITS AUTHORITIES AUTHORIZING THE ISSUANCE OF GENERAL OBLIGATION BONDS OF THE STATE AND HIGHWAY REVENUE BONDS OF THE DELAWARE TRANSPORTATION AUTHORITY; APPROPRIATING FUNDS FROM THE FIRST STATE IMPROVEMENT FUND; DEAUTHORIZING CERTAIN GENERAL OBLIGATION BONDS OF THE STATE AND CERTAIN AUTHORITY FOR GUARANTEED INDUSTRIAL REVENUE BONDS; REVERTING AND REPROGRAMMING CERTAIN SURPLUS FUNDS OF THE STATE AND THE DELAWARE TRANSPORTATION AUTHORITY; APPROPRIATING CERTAIN GENERAL AND SPECIAL FUNDS OF THE STATE AND THE DELAWARE TRANSPORTATION AUTHORITY; AUTHORIZING THE DEPARTMENT OF ADMINISTRATIVE SERVICES TO ALLOCATE STRIPPER WELL FUNDS TO CERTAIN ELIGIBLE CAPITAL IMPROVEMENTS AUTHORIZED IN THIS ACT; TO AMEND SUBCHAPTER VII OF CHAPTER 50 OF TITLE 29 OF THE DELAWARE CODE, RELATING TO ALLOCATION OF STATE PRIVATE ACTIVITY BOND CEILING TO GOVERNMENTAL UNITS, ESTABLISHMENT OF INDUSTRIAL REVENUE BOND COMMITTEE AND REPORTING REQUIREMENTS AND TO AMEND SUBCHAPTER IV OF CHAPTER 50 OF TITLE 20 OF THE DELAWARE CODE TO CLARIFY THE POWER OF THE DELAWARE ECONOMIC DEVELOPMENT AUTHORITY TO ISSUE AND REFUND BONDS AND TO MAKE CERTAIN TECHNICAL CORRECTIONS THERETO; AMENDS THE DELAWARE HEALTH AUTHORITY STATUTES; ALLOWS FOR THE ISSUANCE OF VARIOUS DEBT INSTRUMENTS REGARDLESS OF THE TREATMENT OF INTEREST THEREON FOR FEDERAL TAX PURPOSES; ALLOWS FOR THE ADVANCE FUNDING OF CAPITAL PROJECTS; OTHER RELATED CHANGES; AND AMENDING CERTAIN PERTINENT STATUTORY PROVISIONS.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE (Three-quarters of all members elected to each House thereof concurring therein):